Internet market research is the process of gathering information about an online marketplace.
Research purposes are many and are dependent on different needs. Some of them are consumer behaviors, program validations, and niche attractiveness.
A consumer behavior research studies people and how they react to different marketing campaigns. A well-performed research allows you to collect data about how to reach them and when.
A program validation research works differently.
The internet marketing research helps you to learn whether you can spot a group of buyers who want to buy your soon-to-be-developed product. The research finding lets you to decide whether to go on with the program or not.
Below are some tips to uncover the attractiveness of a niche market.
Spot an Attractive Niche with Internet Market Research
If you’re just starting out, just begin with the industry you’re currently in. With years of experiences you’ll be able to find problems or opportunities in your industry.
Depending on your internet business model the following places are worth your visit:
1. Magazines – Visit Magazines.com and look through the categories related to your industry. For each magazine discover the number of subscribers and how long it has been in print.
Once done, go hunting for them at a newsstand in your area. Find out whether advertisers have made sales from their ads and whether you can offer similar products or services to the market.
2. eBay – eBay is a huge marketplace that gets massive traffic from people who are buying and selling physical products.
At eBay you’ll be able to find what people are really buying. Just look through a list of the products related to your industry that people are buying. Then determine whether your target market is willing to accept your product offerings.
3. Clickbank – If you wish to sell digital products visit Clickbank.com. Clickbank ranks product sales from the highest to the lowest sellers in each category.
You’ll find the top sellers of digital info products, software and subscription services related to your industry located at the top listings. Find out whether there are opportunities for new digital products.
Find Keywords with an Internet Market Research
Once you have located a niche market that contains a group of buyers, follow it up with a keyword research.
Keyword research helps you understand what your audiences are looking for online. It’s also useful to probe the level of competitions. These are two things for you to learn before jumping into the niche market.
The keyword research tool that I use is Market Samurai. Market Samurai shows me keywords search engine users type in and the related keywords.
Its SEO competition analysis feature is also easy to use. For example, when it generated results for “keyword research”, the top ten results show green, yellow and red colors. Each color represents a level of competition, where green is easy and red is tough.
If you don’t own keyword research software, just open an Adwords account and go to the Google Keyword Planner.
No matter which keyword tool you use, you’ll have to find your niche market and the keywords people use on search engines. And the key to a successful keyword research is to discover ones that are close to buying decisions.
Test Your Internet Market Research Results
Now it’s time to test niche market you have found. Build a simple affiliate site.
Find and choose low-cost keywords and use them for a Google Adwords campaign. Spend $100 to test the market and see if you have a winner.
If you pulled a profit from your test, build your business website. If not, find another market until something sticks.
No matter how well performed, any research can go wrong. To produce more accurate results, you must conduct many methods of research.
With proper internet market research, you’ll be able to locate a niche that works for you and that is profitable as well.